Swiss households saving more in face of currency losses

ZURICH, SWITZERLAND – Swiss households reacted cautiously to the economic uncertainties of 2010 by putting more money into savings. Net worth (financial assets + real estate – liabillities) per capita increased by CHF6,000 to CHF341,000. Losses on investments linked to the strong Swiss franc and falling markets had an impact, but higher savings and rising […]

Gov’t to move to cool Swiss real estate market

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BERN, SWITZERLAND – The current very low interest rates in Switzerland run the risk of overheating the mortgage market and Wednesday the Swiss Federal Council underscored that it considers urgent the need for measures to reinforce macroprudential management. In particular, the government wants to ensure that the central bank and supervisory authorities have rapid access […]

Construction loans are up, interest rates remain stable and low

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Zurich, Switzerland (GenevaLunch) – Mortgage loans in Switzerland, 40 percent of which are new construction loans, rose by 4.6 percent in July. They had been falling but began to rise after Swiss interest rates moved lower starting in November 2008, says the Swiss National Bank (SNB). Mortgage loans constitute 80 percent of all loans. Loans […]